Lawyers Bristle At Sovereign Wealth Fund Criticism

Law360, New York (March 27, 2008, 12:00 AM EDT) -- Ever since Dubai Ports World tried to take over the operation of U.S. ports in March 2006, state-owned funds have faced a barrage of criticism from lawmakers and pundits who claim they pose a national security risk. But lawyers for international law firms generally bristle at this talk, saying sovereign investment is beneficial for all involved.

DP World is an operating entity and not technically a sovereign wealth fund, said Jack Greenwald, a partner who heads Chadbourne & Parke LLP's Dubai, United Arab Emirates, office....